Apple Q2 2023 Earning Reports: $94.8bn Revenue, New Records for Services and iPhone

Onsa MustafaLast Updated: May 5, 2023

Apple has officially announced its earning reports for Q2 2023. Apple posted quarterly revenue of $94.8 billion, down 3% year-over-year. Earnings-per-share came in at $1.52, unchanged year-over-year. Net profit for the quarter came in at $24.16 billion.

Apple also set a March quarterly record for iPhone revenue and a new all-time high for Services.

Apple Q2 2023 Earning Reports: $94.8bn Revenue, New Records for Services and iPhone

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For the quarter, analysts were anticipating revenue of $92.96 billion and earnings-per-share of $1.43. In comparison to last year, net income was down slightly from $25.01 billion to $24.16 billion. Revenue was down from $97.28 billion.

Apple CEO Tim Cook touted the company’s performance in Q2 2023:

“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high. We continue to invest for the long term and lead with our values, including making major progress toward building carbon-neutral products and supply chains by 2030.”

Apple no longer reports unit sales for any of its products. However, the company reports a breakdown of revenue by product category. Here is the full breakdown for the fiscal Q1 2023, compared to fiscal Q1 2022 numbers.

iPhone: $51.33 billion ($48.84 billion estimated)
Mac: $7.17 billion ($7.80 billion estimated)
iPad: $6.67 billion ($6.69 billion estimated)
Wearables, Home, and Accessories: $8.76 billion ($8.43 billion estimated)
Services: $20.91 billion ($20.97 billion estimated)

You can check out Apple’s full earnings release in the post on Apple Newsroom.

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